XRP Price Plummets Below $1 as Binance Open Interest Surges

XRP's price has dropped below $1, currently trading at around $0.9942. Despite this decline, large-scale transactions exceeding $1 million have surged by 280%, with over 38 significant transfers logged in a day.

According to data from Binance, the exchange's open interest for XRP has reached its highest point in two months, indicating increased derivatives market engagement.

The trading volume in derivatives markets has climbed 12.48% to $1.55 billion, while futures open interest saw a modest decline of 0.69%.

For XRP to establish a credible recovery trajectory, it needs to regain the $1 threshold and surpass the $1.02 resistance barrier.